Greater flexibility in how retirement savings can be used is key to renew 'social contract' between generations, the Association of Consulting Actuaries (ACA) has said.
In this context, ‘social contract' looks to pension, saving and tax arrangements offering a fair balance across the generations, so people of all ages feel they are not being disadvantaged by the pensions...
In this week's Pensions Buzz survey, we want to know whether or not you agree with Lord Myners' opinion that asset owners, such as pension funds, are substantially to blame for short-termism in business.
A typical defined benefit (DB) scheme was able to meet 92.9% of its accrued pension rights as of 30 September, according to Legal & General Investment Management (LGIM).
The combined funding level decreased by just over four percentage points by the end of last month to 93.6%, according to the Pension Protection Fund's (PPF) latest update.